Taking Stock: Market snaps 2-day fall; Nifty above 23,300, Sensex up 593 points

Market Today

Indian benchmark indices erased some of the previous session losses and snapped two-day losing streak on April 2 amid buying across the sectors. The market participants are awaiting US President Donald Trump’s tariffs announcement today.

At close, the Sensex was up 592.93 points or 0.78 percent at 76,617.44, and the Nifty was up 166.65 points or 0.72 percent at 23,332.35.

Amid mixed global cues, the market opened higher with Nifty around 23200 and extended the rise as the day progress, hitting 23350 intraday, to finish near day's high.

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All the sectoral indices ended in the green with FMCG, Consumer Durables, Realty up 1-3 percent.

BSE Midcap and smallcap indices rose nearly 1 percent each.

Tata Consumer, Zomato, Titan Company, IndusInd Bank, Maruti Suzuki were among major gainers on the Nifty, while losers were Bharat Electronics, UltraTech Cement, Nestle India, Power Grid Corp and L&T.

85 stocks touched their 52-week low on the BSE including Punjab and Sind Bank, Central Bank of India, UCO Bank, Kajaria Ceramics, IOB, Colgate Palmolive, Birlasoft, Metropolis Healthcare, Sona BLW, KEI Industries, among others. Click here to view full list

Index	Prices	Change	Change%
Sensex	85,956.40	249.73	+0.29%
Nifty 50	26,272.45	69.50	+0.27%
Nifty Bank	60,013.45	260.75	+0.44%

Nifty 50 26,272.45 69.50 (0.27%)

Mon, Dec 01, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
JSW Steel	1,173.70	13.40	+1.15%

Biggest Loser	Prices	Change	Change%
Bajaj Finance	1,027.80	-9.70	-0.93%

Best Sector	Prices	Change	Change%
Nifty PSU Bank	8598.60	84.20	+0.99%

Worst Sector	Prices	Change	Change%
Nifty Pharma	22904.00	-94.30	-0.41%

Outlook for April 3

Rupak De, Senior Technical Analyst at LKP Securities

Following a recent correction, the index appears to be finding support around the critical 50 EMA on the daily timeframe. Additionally, the index has been holding above the falling trendline breakout point. A bullish Harami candlestick pattern has formed on the daily chart, suggesting a potential price recovery in the short term.

On the lower end, 23,100 might remain a strong support level in the short term, below which weakness could increase. On the other hand, sustaining above 23,100 might provide momentum for a rally toward 23,800.

Aditya Gaggar Director of Progressive Shares

The Index experienced a strong upward movement in the opening trade, followed by a lackluster performance in the mid-session. However, a sharp rally in the final hour of trading led to a positive close at 23,332.35 with gains of 166.65 points. All sectors ended in the green, with Realty and FMCG being the top performers.

After a brief dip in the morning trade, Mid and Smallcaps managed to extend their gains, outperforming the frontline Index.

The Index closed with a strong bullish candle, suggesting that it may be forming the right shoulder of an Inverted Head and Shoulders pattern.

Strong support is seen at the 50DMA level of 23,000, while immediate support and resistance are at 23,160 and 23,430, respectively.

Ajit Mishra – SVP, Research, Religare Broking

Markets rebounded after Tuesday’s decline, gaining over half a percent. Following a flat opening, Nifty edged higher and remained range-bound throughout the session, eventually closing at 23,332.35. Most key sectors contributed to the recovery, with realty, FMCG, and banking leading the gains. Meanwhile, broader indices continued their outperformance, rising nearly one and a half percent each.

Markets will react to the announcement of reciprocal tariffs and the initial response from global markets, which could influence sentiment. Additionally, the scheduled weekly expiry may add to the volatility.

We recommend a cautious stance and favor a hedged approach until there is greater clarity on the index’s next directional move. However, stocks continue to offer trading opportunities on both sides, and participants should position themselves accordingly.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.